Microsoft Dynamics NAV (Archived)

You must specify Realized Losses Acc. in Currency Code='USD'

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I keep getting this error message when trying to post a payment in the payment journal

Please advise.

Thanks

Pete

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Jens Glathe 6,092 on at

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Hi Pete,

please add accounts for realized F/X gains and losses in the currencies table, at least for USD. If this is set, the posting should go through.

with best regards

Jens

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Community Member on at

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Thanks Jens.

I found where to put this. What affect (if any) does this have when the post is made?

Thanks

Pete

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Jens Glathe 6,092 on at

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Hi Pete,

that's the right question. Your payment has a different exchange rate than the invoice, the resulting difference is posted to realized losses. How big this difference is... depends on the exchange rate difference and the amount outstanding. To check this beforehand, you need to know:

- what the exchange rate is in the invoice

- what your current (payment) exchange rate will be (either exchange rates at date, or what you entered in the payment journal).

The difference multiplied by payment amount is the expected loss. It's a normal thing, though. But only if you actually do handle multiple currencies. Otherwise, it can be another setup issue. For example, I match the exchange rate on invoice an payment, because my credit card company does the currency handling for me. So, no realized gains/losses, only credit card fees.

with best regards

Jens

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Tharanga Chandrasekara 23,118 on at

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Refer this video : www.youtube.com/watch

Check this forum question it has all the require information you need. community.dynamics.com/.../145240

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Tharanga Chandrasekara 23,118 on at

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If you need to know more details on how the multicurrency work in Dynamics NAV please do check below document : mbs.microsoft.com/.../course80535

(You required to have partnersource login)

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MarisolC 103 on at

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Could you pls advise me about this:

I have accounts set up but I keep getting this message:

"Realized Losses Acc. must have a value in Currency"

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Jens Glathe 6,092 on at

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Looks counterintuitive :) No idea, yet. What is your local currency? I assume none of the three. This error should come on a posting with Cust/Vend application, like a bank statement or a payment. However, if there isn't another currency involved where this setup is missing, I'm at a loss. Do you have the example posting batch and the full error message?

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Community Member on at

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Pete,

When creating a Payment Journal and paying a Vendor with a Foreign Currency (FX), you will be recording (posting) the Realized Gain or Loss on the FX. The Invoice, at the recorded FX will be compared to the FX on the day you pay the Invoice. You will need to enter the G/L Account (COA) for the Realized FX Gain/Loss. Normally I instruct my customers to enter an account in the 8xxxx range. You enter the G/L Account on the Currency Card. One last thing, the message states its for the USD Currency so that is the currency that is missing the GL Accounts.

Hope this helps.

Thanks,

Steve

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